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Week Ahead: FOMC, Earnings, and Q2 GDP to move markets

The European Central Bank meeting on Thursday was basically a rehash of the Strategic Review:  No change in monetary policy, no change in PEPP, and a statement wording change to reflect a “symmetrical 2%” rather than “Close to, but below 2%” This week, central bank focus will be on the FOMC meeting on Wednesday.  Will …

Week Ahead: FOMC, Earnings, and Q2 GDP to move marketsRead More

Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costs

A employee sprinkles cheese on a burrito at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Consumer brands from Chipotle Mexican Grill to Whirlpool are dealing with inflation by passing higher costs onto their customers through price hikes. Many companies that reported quarterly results in the past …

Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costsRead More

California announces rollout of chip-enabled debit cards to deter theft of unemployment benefits

California will strengthen the security of the debit cards it uses to issue unemployment insurance and other benefits following a wave of fraud, according to an announcement from the state’s Employment Development Department. The state agency plans to work with Bank of America to start rolling out chip-enabled debit cards to new claimants, as well …

California announces rollout of chip-enabled debit cards to deter theft of unemployment benefitsRead More

Weekly Economic & Financial Commentary: ECB’s Easing Measures Going Nowhere Fast

United States: COVID Rise Jitters Financial Markets, while Housing Perks Up July’s NAHB Housing Market Index slipped one point to 80. Housing starts beat expectations and rose 6.3% during June, although building permits fell 5.1%. Existing home sales climbed 1.4%. The Leading Economic Index (LEI) advanced 0.7% in June. Initial jobless claims rose to 419K …

Weekly Economic & Financial Commentary: ECB’s Easing Measures Going Nowhere FastRead More

Yen Lower Again as Risk Turned On, Loonie Shrugs Retail Sales

Yen drops broadly today as markets turn back into risk-on mode. It has indeed become the worst performing one for the week. Dollar is also staying to look a bit vulnerable against European majors and commodity currencies. Canadian Dollar is firm and shrug off retail sales data, which shows contraction. Question is now on whether …

Yen Lower Again as Risk Turned On, Loonie Shrugs Retail SalesRead More

USDCAD Recoils Beneath 200-SMA But Upside Still Active

USDCAD’s seven-week uptrend from the 6-year lows remains structurally intact with shaped higher lows and highs, in spite of the fresh pullback from the peak of 1.2807. Upside sentiment appears to be growing, something also being indicated by the softened negative slopes of the 100- and 50-day simple moving averages (SMAs). Furthermore, the rising 50-day …

USDCAD Recoils Beneath 200-SMA But Upside Still ActiveRead More

EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key Supports

The EURUSD is holding near the new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday. The short-lived positive impact from ECB resulted in a brief correction which was capped by initial barriers (falling 10/20DMA’s). Upbeat German PMI data keep the pair afloat, but the reaction was …

EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key SupportsRead More

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